It's a cliche I'm ready to throw away (OK, one more time): cautiously optimistic. But it's a fitting way to describe the mood of execs at Wells Fargo & Co. (NYSE: WFC) after the bank on Tuesday reported another record quarter.

After reporting fourth-quarter net income of $3.4 billion, Wells CEO John Stumpf and CFO Tim Sloan spoke to analysts for more than an hour. They affirmed their belief in Wells Fargo's ability to continue growing despite the ugly downturn that has undermined the bank's mortgage unit. And they conveyed their hope that the U.S. economy might be waking up.

"We sit here in better shape than where we've been for the past five or six Januarys," Stumpf said, noting the improved outlook in Washington and a renewed desire to expand among business owners. "There is more activity. [2014] won't have a watershed moment, but I am optimistic."

The execs didn't provide much detail, but they did mention Wells intends to increase its quarterly dividend in 2014, pending regulatory approval.

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